| DEAL NAME | MSAC 2004-HE8 |
| Closing Date | 10/28/2004 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,396,841,434 |
| |
| Sellers | NC(71.39%),AA(28.61%) |
| Servicers | CW(96.97%) |
| |
| Number of Loans | 7996 |
| Avg Loan Balance ($) | 174,692 |
| |
| Fixed/Floating | |
| % FRM | 24.30 |
| % ARM | 75.70 |
| |
| %IO | 11.80 |
| Wtd Avg IO Term (months) | 30 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.028 |
| Non-Zero Wtd Avg Margin (%) | 5.598 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.003 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.343 |
| |
| Lien Composition | |
| % 1st Lien | 99.29 |
| % 2nd Lien | 0.71 |
| |
| Non-Zero Wtd Avg FICO | 615 |
| % FICO below 600 (inc. N/A) | 40.97 |
| % FICO below 550 (inc. N/A) | 14.13 |
| |
| Wtd Avg Comb Orig LTV | 79.76 |
| % CLTV > 80 | 40.82 |
| % CLTV > 90 | 8.66 |
| % CLTV > 95 | 2.28 |
| |
| % Silent Seconds | 16.12 |
| CLTV incl. all simul. liens (%) | 82.78 |
| |
| Documentation Level | |
| % Full Documentation | 57.16 |
| % Stated Documentation | 39.14 |
| % Limited Documentation | 3.70 |
| |
| % Owner Occupied | 92.82 |
| |
| Loan Purpose | |
| % Cashout Refinance | 64.66 |
| % Purchase | 29.32 |
| % Rate Term Refinance | 6.02 |
| |
| State Concentration (Over 5%) | CA(35.76%),FL(10.89%),NY(6.98%) |
| |
| % Prepay Penalty | 78.04 |
| |
| Wtd Avg Std Orig Term (months) | 355 |
| Wtd Avg Std Rem Term (months) | 351 |
| Wtd Average Loan Age (months) | 4 |
